Six Flags Entertainment Corporation $FUN is Luxor Capital Group LP's 8th Largest Position

Key Points

• Luxor Capital Group boosted its stake in Six Flags (NYSE:FUN) by 33.4% in Q3 to 1,760,011 shares, making FUN about 1.9% of Luxor's portfolio and the fund's 8th largest holding (≈$39.99M).
• Six Flags recently missed EPS (−$0.91 vs. −$0.31 est.), posted revenue down 5.4% YoY, carries high leverage (debt/equity 9.40), trades at a $1.66B market cap, and has a consensus analyst rating of Hold with an average target of $24.62.

Luxor Capital Group LP boosted its position in Six Flags Entertainment Corporation (NYSE:FUN - Free Report) by 33.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,760,011 shares of the company's stock after buying an additional 440,362 shares during the period. Six Flags Entertainment makes up approximately 1.9% of Luxor Capital Group LP's investment portfolio, making the stock its 8th largest holding. Luxor Capital Group LP owned 1.73% of Six Flags Entertainment worth $39,987,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its position in Six Flags Entertainment by 259.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company's stock worth $30,000 after buying an additional 722 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Six Flags Entertainment in the third quarter worth $30,000. Allworth Financial LP increased its stake in shares of Six Flags Entertainment by 1,179.0% in the second quarter. Allworth Financial LP now owns 1,522 shares of the company's stock worth $46,000 after acquiring an additional 1,403 shares during the period. Caldwell Trust Co purchased a new position in shares of Six Flags Entertainment during the second quarter worth $56,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Six Flags Entertainment during the third quarter worth $59,000. Institutional investors and hedge funds own 64.65% of the company's stock.

Six Flags Entertainment Stock Up 2.5%

FUN opened at $16.39 on Tuesday. The company has a fifty day moving average of $16.85 and a two-hundred day moving average of $18.32. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -1.03 and a beta of 0.36. Six Flags Entertainment Corporation has a fifty-two week low of $12.51 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 9.40, a quick ratio of 0.59 and a current ratio of 0.69.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.60). Six Flags Entertainment had a negative net margin of 51.58% and a positive return on equity of 3.77%. The business had revenue of $650.09 million for the quarter, compared to analyst estimates of $602.68 million. The business's revenue was down 5.4% on a year-over-year basis. On average, research analysts expect that Six Flags Entertainment Corporation will post 0.83 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on FUN shares. Mizuho upped their price target on shares of Six Flags Entertainment from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Friday, February 20th. Guggenheim reduced their price objective on Six Flags Entertainment from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, February 17th. Citigroup cut Six Flags Entertainment from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $25.00 to $20.00 in a report on Thursday, February 5th. Jefferies Financial Group dropped their target price on Six Flags Entertainment from $20.00 to $17.00 and set a "hold" rating on the stock in a report on Tuesday, January 13th. Finally, Truist Financial set a $23.00 price target on Six Flags Entertainment and gave the company a "buy" rating in a research report on Tuesday, December 2nd. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Six Flags Entertainment currently has an average rating of "Hold" and a consensus target price of $24.62.

About Six Flags Entertainment

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.

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